Economic development is acting to ensure that the economy of your community or region (your income or savings) grows faster than yourpopulation (your expenses) so you have the extra resources in the future to finance improvement.
Public-private organizations Chambers City departments Regional organizations State organizations Neighborhood, downtown, community development organizations Increasingly, you.
New types of work and spaces Increasing importance of small businesses (but not just any) Changing ways to do business Freelancer Economy
StrategicDoing vs. Strategic Planning Increasedfocus on skill and workforce development EconomicGardening vs. Entrepreneurship
“The knowledgeeconomy…” Everyone’s in the innovation business Connect to higher education. Importance of places that matter.
Online networks and communication Speed & reach of ideas Crowdsourced finance
Is your economy growing faster than your population? • Economy: Income, savings, wages, • Population: Count, demographic, and the costs of serving the population Incomegreater than your expenses?
A-list Do you have adequate fiscal resources to meet short-term needs? Do you have adequate fiscal resources to meet long-term needs? Is the community maintaining the number &quality of jobs? Is the community dependent on one or a small number of businesses?
B-List Is your environment improving?’ Is your crime activity increasing? Do you have housing that your residents can afford, and a range of housing choices available? Is educational attainment improving?
C-List Is leadership strong in your Do your have strong community? transportation systems? Is tolerance, diversity and interest strong in your Is there social community? harmony in the Community? Do you have a strong healthcare delivery system?
Town A:Litmus Item High Medium LowShort term fiscal strength? XNot dependent on one /small # Xbusinesses?Quality of jobs? XEducational attainment? XLack of crime? XHousing cost? XLeadership? XDiverse range of people? X
Town B:Litmus Item High Medium LowShort term fiscal strength? XNot dependent on one /small # Xbusinesses?Quality of jobs? XEducational attainment? XLack of crime? XHousing cost? XLeadership? XDiverse range of people? X
Talk to each other Prod the economic developers to talk to each other Tear down the walls between you and them Make all plans in real partnership
Beaccountable to the public Pullthem into the conversations to help you find the best answers How? Stay tuned….
Della Rucker, AICP, CEcD James Kinnett, CEcD, FM, EDFPThe Wise Economy Workshop The Kinnett Consulting Groupwww.wiseeconomy.com www.kinnett.bizDella.firstname.lastname@example.org Jim@kinnett.biz513.288.6613 812.290.5663 @dellarucker Mark Barbash, FM Della Rucker AICP CEcD Economic Development ConsultingAlso on LinkedIn and www.markbarbashconsulting.comGoogle+ email@example.com Also on LinkedIn